CommunityLend blog

Best acceptance speech ever | Lending club

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1. While I’m sure this is funny to some people (maybe even dozens of people) is this preferred over some type of GENERAL advocacy in favour of social lending?

   If somebody who wasn’t familiar with lendingclub.com’s situation saw this, all they learn is that it’s possible for them to go into a “quiet period”. A person may rightly wonder: Could one of these “quiet periods” ever prevent me from disputing activity in my account? What else could happen to knock this company out of commission and take my money away?

   It really makes the whole concept appear incredibly tenuous and frail. Now, if you want to talk solutions, this guy should have saved his banner for the 440 quid journal interview that no normal person will ever read. Give Colin the speaking engagement, hopefully he could come up with something better than a spooky banner.

   

   Rob

   June 16, 2008 at 2:11 am

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2. @Rob … of course you are right, and there is a certain arrogance to the notion that LC could do this. Having said that, this from the SEC (US) site offers some insight, and we could speculate that LC are not permitted to talk while their application is underway.

   Quiet Period http://tinyurl.com/5ad74d

   The federal securities laws do not define the term “quiet period,” which is also referred to as the “waiting period.” However, historically, a quiet period extended from the time a company files a registration statement with the SEC until SEC staff declared the registration statement “effective.” During that period, the federal securities laws limited what information a company and related parties can release to the public.

   

   Colin Henderson

   June 16, 2008 at 2:19 am

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